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DEBT (Tables) | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Debt | Debt for the Company as of September 30, 2025 and December 31, 2024, follows:
| September 30, 2025 |  | December 31, 2024
| (In thousands)
Amended and Restated ABL Facility: Summit Holdings’ asset based credit facility due July 2029 | $ | 150,000 |  |  | $ | 305,000 |
Permian Transmission Term Loan: Summit Permian Transmission’s variable rate senior secured term loan due January 2028 | 116,998 |  |  | 129,321 |
2029 Secured Notes: 8.625% senior secured second lien notes due October 2029 | 825,000 |  |  | 575,000 |
Less: unamortized debt discount, premium and debt issuance costs | (10,085) |  |  | (15,746) |
Total debt, net of unamortized debt discount, premium and debt issuance costs | 1,081,913 |  |  | 993,575 |
Less: current portion of Permian Transmission Term Loan | (16,865) |  |  | (16,580) |
Total long-term debt | $ | 1,065,048 |  |  | $ | 976,995 |
Schedule of Maturities of Long-term Debt | Below is a summary of the remaining mandatory principal repayments as of September 30, 2025:
(In thousands) |  | Total |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029
Amortizing principal repayments |  | $ | 116,998 |  |  | $ | 4,257 |  |  | $ | 16,967 |  |  | $ | 17,769 |  |  | $ | 78,005 |  |  | $ | — |
Schedule of Redemption Price | Thereafter, Summit Holdings may redeem all or a portion of the 2029 Secured Notes in whole at any time or in part from time to time at the following redemption prices (expressed as percentages of the principal amount) plus accrued and unpaid interest if redeemed during the periods indicated below:
Period |  | Redemption Price
July 31, 2026 to July 30, 2027 |  | 104.313 | %
July 31, 2027 to July 30, 2028 |  | 102.156 | %
July 31, 2028 and thereafter |  | 100.000 | %

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